Uber buys Delivery Hero for $14.8bn, ending European tech champion
Uber’s $14.8bn purchase of Delivery Hero ends the era of one of Europe’s few global tech champions, underscoring the food delivery sector's shift toward US-dominated consolidation.
Uber has agreed to buy German takeaway group Delivery Hero for $14.8bn, creating the world’s largest food delivery platform. The US firm will pay €41.50 per share, with an actual cash outlay of $13.7bn after accounting for its existing 25% stake. The transaction is expected to close in the second half of 2027.
The deal effectively marks the end of one of Europe’s few homegrown tech champions. Kristin Skogen Lund, chair of Delivery Hero’s supervisory board, framed the sale as a necessary response to market realities. “The food delivery business is highly competitive and scale-dependent,” she said. “It is challenging to build from a European base, yet we have achieved an enormous amount over 15 years.”
The acquisition is the latest in a rapid consolidation of the global food delivery market, a sector that has struggled to maintain profitability since the pandemic-era boom faded. Businesses are chasing scale to cover significant operating costs, a dynamic that has already seen US group DoorDash buy Britain’s Deliveroo and Prosus purchase JustEat Takeaway.
To satisfy European competition regulators, Uber is carving out 14 markets where it already has a strong footprint. Private equity firm SSW Partners will buy these operations, including Glovo in Spain and Portugal, foodora in Norway and Sweden, and Yemeksepeti in Turkey, for $1.6bn.
The merged entity will operate across 99 countries and booked $236bn in orders in 2025. Uber’s chief executive, Dara Khosrowshahi, highlighted the financial logic of combining the platforms. “Together, we’ll nearly double the number of markets where we offer both mobility and delivery services, scaling a proven platform that we believe will create significant long-term value for our customers and shareholders,” he said. Customers who use both taxi and delivery services spend three times more on the app.
For Germany, the takeover brings concrete economic commitments. Uber pledged to keep Delivery Hero’s headquarters in Berlin, invest €2bn in the country over the next five years, and avoid workforce changes until at least 2029. The deal also closes the chapter on founder Niklas Östberg, who agreed to leave in May under pressure from activist investors. “I’m grateful to our people for building this company over 15 years and we look forward to this great next chapter together,” he said.
